An earlier version of this report referred to Humana in the title, not Humira. It has been corrected.
Shares of AbbVie Inc. ABBV,
gained 1.4% in premarket trading on Wednesday after the company beat profit expectations and generated more than expected sales of its top-selling rheumatoid arthritis drug, Humira. AbbVie posted earnings of $4.0 billion, or $2.26 per share, in the fourth quarter of 2021, compared with $36.0 million, or 1 cent per share, in the same quarter a year ago. Adjusted earnings per share were $3.31, versus a FactSet consensus of $3.28. The company reported revenue of $14.8 billion in the final quarter of 2021, up from $13.8 billion in the fourth quarter of last year. The FactSet consensus was $14.9 billion. Humira remains the company’s top-selling drug, generating $5.3 billion in revenue in the fourth quarter of 2021. This represents approximately one-third of AbbVie’s total revenue for the quarter. The FactSet consensus for Humira’s revenue was $5.4 billion. AbbVie said it now expects to have adjusted EPS of $14.00 to $14.20 in 2022. The company’s stock is up 32.4% over the past year, while than the wider S&P 500 SPX,